(1)
Data:
n = 15
μ = 2.2
s = 11.40092
x-bar = 6.13333
Hypotheses:
Ho: μ = 2.2
Ha: μ ≠ 2.2
Decision Rule:
α = 0.05
Degrees of freedom = 15 - 1 = 14
Lower Critical t- score = -2.144786681
Upper Critical t- score = 2.144786681
Reject Ho if |t| > 2.144786681
Test Statistic:
SE = s/√n = 11.40092/√15 = 2.943704886
t = (x-bar - μ)/SE = (6.13333 - 2.2)/2.9437048860962 = 1.336184
p- value = 0.202802752
Decision (in terms of the hypotheses):
Since 1.336183535 < 2.144787 we fail to reject Ho
Conclusion (in terms of the problem):
There is no sufficient evidence that there is a change in the number of cents people carry.
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